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| Version 3 | Version 4 |
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| UK car sales reach four-year high | UK car sales reach four-year high |
| (about 2 hours later) | |
| UK new car registrations rose 5.3% in 2012 to 2.04 million - the highest level since 2008, according to the SMMT car industry body. | UK new car registrations rose 5.3% in 2012 to 2.04 million - the highest level since 2008, according to the SMMT car industry body. |
| Ford's Fiesta and Focus, and Vauxhall's Corsa and Astra were the four best-selling models. | Ford's Fiesta and Focus, and Vauxhall's Corsa and Astra were the four best-selling models. |
| The Volkswagen Golf came fifth, with the Nissan Qashqai in sixth place. | The Volkswagen Golf came fifth, with the Nissan Qashqai in sixth place. |
| "Looking ahead to 2013, we anticipate the market will hold firm," said the chief executive of the SMMT, Paul Everitt. | "Looking ahead to 2013, we anticipate the market will hold firm," said the chief executive of the SMMT, Paul Everitt. |
| Others were less sure. | Others were less sure. |
| "As we look to the year ahead, the real question is whether this demand will hold," said Richard Lowe from Barclays. | |
| "Consumer pockets will continue to be squeezed," he said, before adding that "manufacturers and dealers will have to be careful that supply does not outstrip demand". | "Consumer pockets will continue to be squeezed," he said, before adding that "manufacturers and dealers will have to be careful that supply does not outstrip demand". |
| 'Offers and incentives' | 'Offers and incentives' |
| Last year's growth rate was the fastest in 11 years, bolstered by a 106,346 or a 12.9% rise in demand from private individuals, who bought about 929,000 of the 2,044,609 units sold. | Last year's growth rate was the fastest in 11 years, bolstered by a 106,346 or a 12.9% rise in demand from private individuals, who bought about 929,000 of the 2,044,609 units sold. |
| UK car registrations rose last year in a climate of deep discounting by carmakers. | |
| Sales have fallen sharply across the rest of Europe, where the eurozone crisis and economic austerity have caused a great deal of uncertainty, so supply has exceeded demand. | |
| The new car discounts coincided with a shortage of used cars following years of weak sales. This pushed up prices and resulted in the price gap between new and used cars narrowing. | |
| In addition, older cars often cost more to run, insure and tax because they tend to have larger, thirstier and more powerful engines that emit more harmful gases. As a result, many buyers now feel new cars offer good value for money. | |
| The overall rise in registrations was the second annual increase since the start of the downturn in 2008, though the market remained 14.9% below its pre-recession peak in 2007, when 2.4 million cars were sold. | The overall rise in registrations was the second annual increase since the start of the downturn in 2008, though the market remained 14.9% below its pre-recession peak in 2007, when 2.4 million cars were sold. |
| In December, 123,557 cars were registered, 3.7% more than in December 2011. | In December, 123,557 cars were registered, 3.7% more than in December 2011. |
| "December's figures wrapped up a positive year for the industry, which saw consumer demand driving sales," said Mr Lowe. | "December's figures wrapped up a positive year for the industry, which saw consumer demand driving sales," said Mr Lowe. |
| In a statement, SMMT said: "Offers and incentives and some buyers shifting from buying used to new cars could have contributed to the upturn." | In a statement, SMMT said: "Offers and incentives and some buyers shifting from buying used to new cars could have contributed to the upturn." |
| Rising prices for second-hand cars, which are scarce following years of weak sales, could also have contributed to a shift in buying patterns. | Rising prices for second-hand cars, which are scarce following years of weak sales, could also have contributed to a shift in buying patterns. |
| "This stock shortage is a long term issue and is unlikely to change until new car volumes pick up significantly and the economy improves enough to generate a bigger churn of vehicles in the marketplace," according to British Car Auction's communications director Tony Gannon. | "This stock shortage is a long term issue and is unlikely to change until new car volumes pick up significantly and the economy improves enough to generate a bigger churn of vehicles in the marketplace," according to British Car Auction's communications director Tony Gannon. |